It will be unusual if you never have to deal with the sale or purchase of part of a title as a conveyancer. Whether you are a solicitor or other practitioner dealing with commercial or residential property, a key skill is understanding how to effectively approach sales and purchases of part of freehold and leasehold land and property.
Challenges and traps can arise in any transaction involving a sale or purchase of part, whether you are dealing with a domestic garden, hundreds of acres of land, or the splitting of commercial premises.
If you are acting for the seller, do you understand what protections you should incorporate into the sale documents? As the buyer’s lawyer, do you appreciate the extent of your obligations to protect the buyer? Particular challenges you will face include knowing when and how the benefit and burden of existing rights and covenants are passed on, and the reservations of rights.
A sale of part of leasehold land raises additional issues. What, for example, are the implications and effects of splitting the leasehold reversion? How do you protect your client where there is a sub-letting of part? Our well known and respected property experts, Peta Dollar and Sarah Thompson-Copsey, will take you through the key steps and challenges of sales of part.
Key learning outcomes
- Understand how to deal effectively with a sale or purchase of part of a title
- The pitfalls and challenges you may face
- How best to protect your clients’ interests
What does this course cover?
This course covers the fundamentals of sales and purchases of part, and the particular issues you will need to address, including:
- Split reversions and potential complications
- The status of existing rights, section 62 Law of Property Act, and the rule in Wheeldon v Burrows
- Granting and reserving new rights and easements
- Passing on (or retaining) the benefit of existing restrictive covenants
- Imposing new restrictive covenants
- Splitting planning obligations under section 106 agreements
- Issues involving the Community Infrastructure Levy where there is a single planning permission for sold and retained land